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it only funds government for eight days. how can we be serious about staying focused on one thing in not talking about all the other issues. spending is defitely the issue we must do true enitlent reform or they will be here for thpeople currently. gerri: nobody is talking about that right now. we can't get pas the basics get to entitlements. thank you for comingon. you must come back soon. appreciate your time. >> you're welcome. thanyou for having e. gerri: an absolutete pleasure. coming up,i will be joined by moneyman wayne rgers for his take on the looming fcal cliff. >> coming up on "the willis report", does sped illed? w es this impact indivual trers? break down at this means for your gerriwillis.com. in the deh as it spirals out of cotrol. chopping debt in half. to they have th answers for sog the nation's debt crisis to mecca alo, a showdown between the epad aaa will he ne fuel cause damage your vehicle? the man behindegislaion to block the new gasole is us his take. we are on the case next on "the willis report." â™
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the agecy's, the salaries of all government employees. more of a leg to stand on about fairness and taxing the rich. if our politicians would give up their entitlements we would save the country billions and not have to affect the general public and their social secrity and medicare. dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i lov haring from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiring massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the boston globe reporting the 72-yar-old democratic congressman whois set toretire in january hired the big shot hollywood agency william morris to represent hiin the next phase of his career. william morris is run by r.e.m. manuel, the brother of chicago mayor and the inspiration for the character ari goldman the
the agecy's, the salaries of all government employees. more of a leg to stand on about fairness and taxing the rich. if our politicians would give up their entitlements we would save the country billions and not have to affect the general public and their social secrity and medicare. dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i lov haring from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you...
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and federal government also. but he also said that they would have to meet his goals and ideas. leader harry reid, he was more concerned that they were going to be able to reach some kind of an agreement avoid going off the fiscal cliff. gerri: how concerned are you? what would it mean if we read right over the edge? you believe that there will be some agreements by decembee 31? >> it is hard to tell. the house, the senate, the republicans, it's very tough negotiitions up there. i will tell you that i did meet with my finance officer this morning. my budget director. we talked about comparing my state budget. we have to make our decisions within the next month. the state of oklahoma, it will cost to $700 million in so many things. if we got the fiscal cliff. gerri: with the defense cuts come if we do over the cliff, it will cost $100 million or over that? >> 137 million. gerri: would this put you into the red? >> it certainly could. we are still looking at obama's health care plan and what it will do to the state
and federal government also. but he also said that they would have to meet his goals and ideas. leader harry reid, he was more concerned that they were going to be able to reach some kind of an agreement avoid going off the fiscal cliff. gerri: how concerned are you? what would it mean if we read right over the edge? you believe that there will be some agreements by decembee 31? >> it is hard to tell. the house, the senate, the republicans, it's very tough negotiitions up there. i will...
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government is sustain in terms of debt to gdp. luckily, we don't know. 70, we could survive in terms of the sense we won't bespialing out of control, but the higher that ratio is, then the more that future generations, their taxes go simply to service the debt for the services that their parents and grandparents enjoyed. tracy: right. >> it's the right way to think about the problem. get the number dun as soon as we can. tracy: the answer will be continue to raise axes to make those interest payments which is circular and arguably stupid at the end of the day. talk about the tax code. how do you do it? it's a big book of favors. it is a doorstop at this point it's so big. do you throw it out and start over? >> wellll, it's interesting. you know, for a long ime, in the 1990s and the early part of the 2000s, there was a lot of chat about throwing it out and starting over, and i think that conservatives note that if we do that, we would start over with the system much more efficient than the ones we have. we start with the consumptio
government is sustain in terms of debt to gdp. luckily, we don't know. 70, we could survive in terms of the sense we won't bespialing out of control, but the higher that ratio is, then the more that future generations, their taxes go simply to service the debt for the services that their parents and grandparents enjoyed. tracy: right. >> it's the right way to think about the problem. get the number dun as soon as we can. tracy: the answer will be continue to raise axes to make those...
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maybe the government is simply making a peace savings. i do know seniors cannot save $5 billion without someone paying the price. melissa: thank you. be sure to watch the tom sullivan show this weekend. have all wonderful weekend. happy friday, everyone. we will see you back here on monday. ♪ gerri: tonight, did president obama break the law? some in the senate say yes, and now the cases in front of a judge. we will have a heated debate. with more than a million charities and the u.s. alone, how did you find the best one? we have you covered. "welcome to "the willis report." hello, everybody. i'm gerri willis. tonight no progress on the fiscal cliff as democrats and republicans trade barbs over the issue. one group of americans is finding a way through this regardless of congress and the president. small-business owners in this country are preparing to hire. join me now, chief u.s. economist for i may just pull one side. heart of america group founder, and member of the jobs creation alliance and actual job creators in this country who
maybe the government is simply making a peace savings. i do know seniors cannot save $5 billion without someone paying the price. melissa: thank you. be sure to watch the tom sullivan show this weekend. have all wonderful weekend. happy friday, everyone. we will see you back here on monday. ♪ gerri: tonight, did president obama break the law? some in the senate say yes, and now the cases in front of a judge. we will have a heated debate. with more than a million charities and the u.s. alone,...
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it's part outline government response. at length one of the biggest gatherings of rock musicians ever in last night's fund-raising concert. the number one search story is the death of whitney houston. her shocking death in february had everybody talking. asking questions and remembering legendary singer. playing some of her unforgettable songs. on the top 10, deal with it and of course gangham style, and no, i'm not going to do that dance. coming back with more union news and views from obamacare. insurance companies are threatening major rate hikes. we will have all that matters. uh... whew. [ male announcer ] brk from the holiday stress. ship fedex express by december 22nd for christmas delivery. tracy: surprise, surprise. obamacare is forcing insurance rates. blue shield of california is hiking and three by 12 to 20% this month. it is certainly not alone. the ceo of aetna says we are going to see some markets go up as much as 100%. also a slew of other hidden fees passenger obamacare. with more, the ceo of vital spring
it's part outline government response. at length one of the biggest gatherings of rock musicians ever in last night's fund-raising concert. the number one search story is the death of whitney houston. her shocking death in february had everybody talking. asking questions and remembering legendary singer. playing some of her unforgettable songs. on the top 10, deal with it and of course gangham style, and no, i'm not going to do that dance. coming back with more union news and views from...
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the government made all his mistakes, so the really wealthy people can pay for it all. speak the whole point is it can fit the bill. we'll add $10 trillion of debt, doesn't obama taught no tax increases. we're talking cover the debt over that time. it is not enough to prevent a debt crisis down the line. tracy: we have seen it time and time again. thougthe ability to wealth if yu have access to important people. they don't have to pay taxes after all. >> people don't work as hard as ithey otherwise would have, dont take risks so don't get the growth have not raised taxes. i think that's what would happen if we went with president obama's plan. they come it will not grow as fast as it would have. speetracy: inevitably our taxesl go up because the wealthy do not pay as much as they thought. >> there's not enough revenue at the top to fit the bill. they still need to get back to where they get is coming from, spending on entitlement programs as social security and medicare. tracy: we spent $270 billionn3 from 21,022,014 on this credit, how come we don't talk about that? >>
the government made all his mistakes, so the really wealthy people can pay for it all. speak the whole point is it can fit the bill. we'll add $10 trillion of debt, doesn't obama taught no tax increases. we're talking cover the debt over that time. it is not enough to prevent a debt crisis down the line. tracy: we have seen it time and time again. thougthe ability to wealth if yu have access to important people. they don't have to pay taxes after all. >> people don't work as hard as ithey...
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about 400 rules in the government we've done within 35, we'r135, we'reslow but floodingd the rig balance, and g things right, and don't cause a market migration to to other country, and don't create a devastating havoc on financial firms or markets. tracy: we've seen before with sarbanes-oxley, it became arduous. that can't happen again. >> the systemic risk, the risk to all of us, some people call it, too big to fail. that is the problem in 2008, we lost 9 million jobs, and people lost their homes, that is what we're trying to resolve. tracy: with 400 new rules, do you really think you will prevent another -- if we have -- another financial crisis, there are people out there that are starter than all of us, figuring outweighs to trade around every rule under the son, they do it with the tax code, they will do to with dodd-frank. >> we need to hire you, you understand they are trying, that but i think it will help, that systemic risk we need to get a handle othere is certainly there will be issues in the future. but we should not have to have a $400 billion hideous bailout because one fi
about 400 rules in the government we've done within 35, we'r135, we'reslow but floodingd the rig balance, and g things right, and don't cause a market migration to to other country, and don't create a devastating havoc on financial firms or markets. tracy: we've seen before with sarbanes-oxley, it became arduous. that can't happen again. >> the systemic risk, the risk to all of us, some people call it, too big to fail. that is the problem in 2008, we lost 9 million jobs, and people lost...
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i'll break down how government is working to stop oil and gas exploration. that's coming up next. ♪ [ male announcer ] if you're eligible for medicare,e, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? of your part b medical expees. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. call today to request a free dision guide to help you tter understand medicare and which aarp medicare supplement plan works best for you. with this type of plan, you'll be le to visit any doctor or hospit that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. there's a range of plans to choose from, too. and they all travel with you. anywhere in the country. join the millions who have already enrolled in the only medicare suppl
i'll break down how government is working to stop oil and gas exploration. that's coming up next. ♪ [ male announcer ] if you're eligible for medicare,e, now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? of your part b medical expees. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they cover some...